Cheetah Mobile (CMCM) has released an update.
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Cheetah Mobile has reported an 11.6% year-over-year revenue increase in Q1 2024, driven by its AI segment and the acquisition of Beijing OrionStar, which brought in service robots and large language model capabilities. Despite this growth, the company experienced an increase in operating losses due to higher personnel and hardware-related costs. The shift from consumer to enterprise-facing operations marks a strategic transformation for the company.
For further insights into CMCM stock, check out TipRanks’ Stock Analysis page.
